Two new regulations were announced after the market maker regulation in the real estate certificate traded on the stock exchange.
It is stated that TOKİ Park Mavera3 Project real estate certificates, which are traded on the stock exchange in the explanation made from the Stock Exchange Istanbul, may be subject to credit purchase transactions of capital market vehicles, except for the sale transactions which are not open since 9 October 2017.
However, according to the disclosure, these certificates can be regarded as equity in crediting purchases of capital market instruments, except for sales transactions, and 100 percent of real estate securities such as other capital market instruments, which are eligible for the calculation of equity ratio, will be accepted.
Previously, Vakıf Yatırım Menkul Değerler A.Ş. has announced that the real estate certificates have been operating as market makers since th 2nd October 2017.
CERTIFICATE HAS BEEN AGAINST THE AGENDA
The certificate was offered to the public in April and entered a downward trend after the supply. The market maker model has been on the verge of a sharp decline in the certificate, which has lost the 14 percent since the date it was offered to the public.
Following the announcement of the Capital Markets Law and the renewed real estate certificate in 2016, Turkey's first real estate certificate exports were realized for the Park Mavera 3 Project, which was built in Basaksehir, Istanbul with TOKİ and Macro Construction's revenue sharing partnership model.